X90 Forex Broker

X90 Forex Broker - Complete Information Guide

1. Broker Overview

　　X90 is a forex broker operated by CFD Group Ltd., which was established in 2016. The company is registered in the Marshall Islands, a well-known offshore zone. As a private entity, X90 primarily serves retail clients seeking to trade various financial instruments, including forex, commodities, and CFDs.

　　The broker has aimed to establish itself in the competitive forex market by offering a simple trading platform and a commission-free account structure. However, it has faced significant challenges, including negative user reviews and regulatory scrutiny. X90's development journey highlights its efforts to attract traders despite the lack of regulatory oversight, which is a critical consideration for any prospective client.

　　The parent company, CFD Group Ltd., operates under a market maker model, which means it creates the market for its clients rather than facilitating trades in an ECN environment. This model has been a point of contention among traders, as it can lead to conflicts of interest.

2. Regulatory and Compliance Information

　　X90 operates without any regulatory oversight, which is a significant concern for potential clients. The broker is not regulated by any major financial authority, which means it does not have a regulatory license number or any investor protection measures in place.

　　The lack of regulation raises serious questions about the safety of client funds. There are no segregated accounts to protect clients' deposits, and the absence of an investor compensation fund means that traders have limited recourse in the event of broker insolvency. Furthermore, X90 does not appear to have implemented comprehensive KYC (Know Your Customer) and AML (Anti-Money Laundering) procedures, which are standard practices among regulated brokers.

　　Due to these compliance issues, many financial regulators have issued warnings against trading with X90. It is essential for traders to consider these factors seriously before engaging with the broker.

3. Trading Products and Services

　　X90 offers a range of trading products, including:

• Forex Pairs: The broker provides access to a limited selection of currency pairs, including major and minor pairs, though specifics on the total number are not clearly stated.
• CFDs: Traders can access CFDs on commodities, indices, and shares, allowing for diverse trading opportunities.
• Unique Offerings: X90 does not offer any exclusive products that differentiate it significantly from other brokers in the market.

　　The frequency of product updates and the introduction of new trading instruments are not well-documented, which may indicate a lack of innovation in their offerings.

　　For retail clients, X90 aims to provide an accessible trading environment, but the absence of institutional services and white-label solutions limits its appeal to a broader audience.

4. Trading Platform and Technology

　　X90 does not support the widely-used MetaTrader 4 (MT4) or MetaTrader 5 (MT5) platforms. Instead, it offers a proprietary web-based trading platform, which is also available in mobile versions for both iOS and Android devices.

　　The platform is designed to be user-friendly, requiring no additional software installation. It includes basic trading tools such as candle and line charts, indicators, and a news and insights section. However, it lacks advanced features such as automated trading with Expert Advisors (EAs) and copy trading options, which are standard in more established platforms like MT4.

　　The execution model used by X90 is that of a market maker, which can lead to potential conflicts of interest. The broker's server locations and technical infrastructure details are not transparently provided, which raises concerns about the reliability and speed of trade execution.

5. Account Types and Trading Conditions

　　X90 offers a single type of trading account with the following conditions:

• Minimum Deposit: $100
• Spreads: Fixed spreads of 2 pips on major currency pairs like EUR/USD.
• Commission: The account is commission-free, which may appear attractive to new traders.

　　There are no advanced or specialized account types, such as VIP or professional accounts, and the broker does not offer Islamic accounts or corporate accounts.

　　The leverage offered by X90 is up to 1:300, which is relatively high compared to other brokers, but traders should be cautious as higher leverage increases risk. The minimum trade size is set at 0.04 lots, and overnight fees are applicable, although specific details are not provided.

6. Fund Management

　　X90 supports several deposit methods, including:

• Credit/Debit Cards: Visa, Mastercard
• Bank Wire Transfers
• E-Wallets: PayPal, Skrill, Neteller, and Comodo

　　The minimum deposit requirement varies by account type, but generally, it starts at $100. Deposit processing times are not explicitly stated, which could lead to uncertainties for traders.

　　Withdrawal methods mirror the deposit options, but there are numerous complaints regarding withdrawal issues, with many users reporting that their requests were denied, particularly after achieving profits. The processing times and fees for withdrawals are not transparently disclosed, which further complicates the situation for traders seeking to access their funds.

7. Customer Support and Educational Resources

　　X90 provides customer support through various channels, including:

• Email Support: Available via their support email.
• Phone Support: A contact number is listed, but response times may vary.
• Live Chat: Not prominently mentioned, indicating limited immediate support options.

　　The broker claims to offer support in multiple languages, but the exact languages are not specified.

　　In terms of educational resources, X90's offerings appear limited. There is no mention of webinars, tutorials, or eBooks, which are critical for new traders. Market analysis services, including daily analysis and research reports, are also not highlighted, which could be a disadvantage for clients looking for comprehensive trading support.

8. Regional Coverage and Restrictions

　　X90 primarily targets clients in regions where regulation is less stringent, allowing them to operate without oversight. However, specific details about the regions they serve are limited.

　　The broker does not accept clients from certain countries, likely due to regulatory restrictions, but the exact list is not provided. This lack of transparency can be a red flag for potential clients.

　　Overall, traders are advised to exercise caution and conduct thorough research before engaging with X90, given its regulatory status and the numerous complaints regarding its operations.

　　In conclusion, while X90 presents itself as an accessible trading option for retail clients, the lack of regulation, negative user experiences, and limited educational resources raise significant concerns. Prospective traders should consider these factors carefully and explore alternative brokers that offer better security and support.